Shares of ICICI Bank on Monday gained nearly 2 per cent after the firm reported an 18.8 per cent jump in its December quarter consolidated net profit.

The stock jumped 1.76 per cent to ₹818.80 on the BSE. At the NSE, it gained 1.51 per cent to ₹816.70.

ICICI Bank on Saturday reported an 18.8 per cent jump in its December quarter consolidated net profit to ₹6,536.55 crore, aided by growth in interest income and decline in provisions.

The country's second-largest private sector lender by assets had posted a consolidated net profit of ₹5,498.15 crore in the same quarter of the previous fiscal.

However, total income was lower at ₹39,865.80 crore in the third quarter this fiscal compared to ₹40,419.08 crore in the same quarter a year ago, according to a regulatory filing.

Also read
FILE PHOTO: A man speaks on the phone outside an ICICI Bank branch in Kolkata

ICICI Bank Q3 net profit up 25 per cent

On a standalone basis, the bank recorded a 25 per cent rise in the post-tax profit to ₹6,194 crore for the quarter, up from ₹4,939.59 crore in the October-December 2020.

Total income on a standalone basis increased to ₹27,069.67 crore from ₹24,416 crore in the year-ago period.

At the same time, net interest income (NII) increased by 23 per cent year-on-year to ₹12,236 crore from ₹9,912 crore in the same quarter in the previous financial year, it said.

The bank reported an improvement in gross non-performing assets (NPAs) ratio at 4.13 per cent from 4.38 per cent at the end of the third quarter of the previous year.

The net NPA ratio was at 0.85 per cent in the third quarter of the current fiscal against 0.63 per cent in the third quarter of FY21.

Related Topics
comment COMMENT NOW